Revolut Receives Conditional Approval for US National Bank Charter
- Revolut has secured conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a national bank.
- The bank will be based in Stamford, Connecticut, with an initial capital injection of approximately $95 million.
- Once operational, services will include checking accounts, installment loans, credit cards, foreign exchange services, and a stablecoin.
- Revolut aims for a full launch by 2027 and currently serves over 80 million customers globally.
- The company is expanding its banking operations internationally and has recently launched in Mexico.
This conditional approval is a significant step for Revolut as it seeks to provide FDIC-insured deposits directly to US customers while enhancing its global banking presence.
With plans to inject $95 million in capital and offer various banking products, Revolut is on track for its proposed national bank launch in the US by 2027.
